News release

Orlando

JLL Secures New 172,000SF Lease for Lennox at Liberty Park at AIPO in Orlando

2017-08-08T05:00:00Z

​Orlando, August 8, 2017 – JLL announces today that the firm has closed on a new 172,000-square-foot lease at 2307 Tradeport Drive, a state-of-the art industrial facility located within Liberty Park at AIPO in Southeast Orlando. Lennox, a leading provider of heating, ventilation, and air conditioning systems, will occupy 100% of the building and will be the first tenant to occupy the space that was built in 2016.

The brokerage team of JLL Executive Vice President Bill Kee, Executive Vice President Joe Hills and Vice President Josh Lipoff represented Lennox in the lease negotiations.

Lennox provides innovative heating and cooling systems for residential and commercial properties throughout the world and will be relocating its central distribution hub for the state of Florida to Liberty Park at AIPO. Lennox's technologies deliver cost-effective comfort while creating healthier and cleaner indoor environments.

"Liberty Park at AIPO's cross dock loading design, new construction features and Leadership in Environmental and Energy Design, or LEED, certification were the driving factors behind Lennox's decision to move into the space," said JLL's Josh Lipoff. "Lennox is the latest addition to the industrial business park's list of marquee tenants and JLL worked closely with the tenant to support its relocation by securing favorable lease terms on their behalf."

Liberty Park at AIPO is an ideal location for companies that require distribution and manufacturing space. The industrial business park is adjacent to the Orlando International Airport and offers easy access to the Florida Turnpike, Interstate 4 (I-4), 528 Beach Line Expressway and the 417 Expressway. The premier industrial park is home to major brands that include Chrysler, Caterpillar, Budweiser, Goya, Tire Kingdom and Staples.

"Lennox made the executive decision to relocate from a facility in Northwest Orlando to Liberty Park at AIPO within the popular airport submarket as this new location better meets the tenant's long-term real estate objectives and supply chain goals for the state of Florida" added JLL's Bill Kee.

This lease has closed at a time when demand within Orlando's industrial market continues to outpace current supply. According to JLL's Q2 2017 Industrial Insight report, even as 6.6 million square feet of industrial space is either under construction or recently delivered in the Orlando area, active requirements for space still exceed the number of developments that are being built. The prime areas of interest for warehouse and distribution tenants are the Southeast Orange County and Southwest Orange County submarkets as they sit at the intersection of primary distribution arteries in Central Florida, including I-4, the Florida Turnpike, Highway 441, the Beachline Expressway, and John Young Parkway.

About JLLJLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.